Carney's Summit: Canada's Investment Opportunity

0:00It's April 17th. This is Calgary News today, AI-powered stories from your city. I'm Cory with the story. Prime Minister Mark Carney just invited 100 of the world's top investors to a summit in Toronto this September. Think giants like BlackRock and Singapore's GIC Sovereign Wealth Fund, they control trillions. The goal is simple. Pitch Canada as the go-to spot for big money in ports, pipelines, and infrastructure. This comes as global chaos, ramps up with trade fights and conflicts everywhere. Carney's been jetting around, chatting of leaders and firms to pull cash back home. Organizers call it like an investor day for Canada Incorporated, hosted by the country's huge pension plans. For years, Canada lagged on business investment compared to peers. Pension funds poured cash abroad, and oil price crashes, plus red tape scared off deals. Foreign direct investment hit highs not seen since 2007 last year, and outward flows slowed. Business leaders are buzzing but cautious.

1:01They praise the talk of streamlining approvals and fast-tracking projects like mines and terminals. Still, they say words won't cut it. Canada needs to prove it can build big and fast, or miss another shot at resources and growth. The summit kicks off in mid-September, aiming to spark long-term ties that flood projects with funds. If it lands, it could flip the script on Canada's investment drought for good.